Indore wheat prices fall on improved sowing.

Prices of wheat fell in Indore, Madhya Pradesh’s benchmark market, today as wheat acreage was up significantly in the state. Farmers have sown nearly 1.15 mln ha of wheat in Madhya Pradesh as of Nov 09, up 85.2% on year. Contrary to expectations, rains in Sep-Oct have boosted sowing. Earlier, there were concerns that weak monsoons could hit wheat sowed. Further fall in wheat prices restricted due to bullish sentiment prevailing in markets following doubling import duty on the grain to 20%,